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1 Life100 NWL Life100 Policy Form and state variations A Comprehensive Universal Life Product SA-9255.Rev NWL Life 100 an easy, affordable way to take care of all your family and business needs Page 1 of 6

2 Life NWLLife National Western Life Insurance Company created the NWL Life 100 to address many of the concerns of people in the new millennium. As times change, needs are changing and traditional forms of insurance are being enhanced by benefits that provide solutions to many of today s problems. NWL Life 100 provides comprehensive, affordable security for any stage of life. Designed for singles, young families, empty nesters, or retirees, NWL Life 100 can provide you and your family or business with security and care for your financial needs. No amount of planning can change yesterday, but you can plan today for tomorrow s financial needs. NWL Life 100 is a unique insurance product that offers flexible premiums during your lifetime until the maturity date. NWL Life 100 may provide funds for: estate taxes and funeral costs; loans, debts and other obligations; the living expenses of the family; college education during the life of the Insured or after death; a business at the death of a key employee; the orderly transfer of a business at death; and retirement needs. Page 2 of 6

3 SUPPLEMENTAL LIFE INSURANCE Today many families are buying term insurance because of the low cost of insurance that this product offers. NWL Life 100 allows you to combine the low cost benefits of Supplemental Life Insurance with the tax deferral features of universal life. The outcome is a customized policy that lets you own the benefits of permanent insurance which builds cash value that is tax deferred, such as universal life, with low cost Supplemental Life Insurance. This combination gives you the best of both worlds. Tax deferral can also offset your insurance charges. With NWL Life 100, your earnings are protected against current taxes and they compound tax deferred. Over the long term, the difference between tax-deferred and taxable investment earnings can be substantial. LIVING BENEFIT RIDER** (Form and state variations) Another problem many people face today is being diagnosed with a terminal medical condition and not having sufficient funds to organize their financial affairs and maintain a comfortable standard of living. National Western Life can assist you in developing a solution to that problem by adding an automatic Living Benefit Rider to your base NWL Life 100 policy at no additional cost. This rider is designed to give you a Benefit Advance if you are diagnosed with a terminal medical condition. A qualified physician must diagnose you as having a terminal medical condition (as defined in the policy) which will result in death within a year from the date of certification. The Benefit Advance you are entitled to receive is the lesser of $250,000 or 75% of the face value of your policy, less policy loans.*** Optional. At additional cost. May not be available in all states. Page 3 of 6

4 FINANCIAL NEEDS ANALYSIS* Each of our families face cash needs at the time of our death. While there are several ways of saving for this contingency, life insurance is an excellent solution to long term financial needs. Life insurance can provide funds that will be there at the time they are needed. Which of these cash needs should you consider? Client Spouse Final Expenses Amount required: medical, funeral, burial costs Emergency Fund Amount required: money for unexpected expenses Education Amount required: funds for your children s education Mortgage & Debt Liquidation.. Amount required: paying off the mortgage on your home and other financial obligations Estate Settlement Amount required: all costs associated with the transfer of assets to your heirs Other Needs Amount required: Less existing coverage: Additional coverage required: Monthly Income Needed How much income is needed for your family in the event of an untimely death? Total monthly living expenses, including mortgage payments, (if not listed above) should be considered. $ $ per month for 10 years at client s death per month for 10 years at spouse s death *This does not constitute an offer by National Western to sell you this amount of coverage. Only you can properly determine the amount you wish to purchase. Page 4 of 6

5 Receipt of a Benefit Advance will reduce your cash values, loan values and the death benefit of your policy. It may also adversely affect your eligibility for Medicaid or other government benefits or entitlements. Since receipt of a Benefit Advance may also be a taxable event, you should consult your personal tax advisor. TAX ADVANTAGES OF LIFE INSURANCE You can create a legacy for your loved ones with a possible increase in the value of your estate which may be income tax free to your beneficiaries and not subject to probate. NWL Life 100 is a life insurance plan developed for your concerns because it provides for the needs you face today. EASY ACCESS TO YOUR FUNDS If you ever need access to your policy s cash value, you may either make a withdrawal or a policy loan. The cash value gain in the policy is currently available on a preferred loan (zero net cost) basis by Company practice only. The balance of the funds are available at a cost determined by the Company and subject to change. (Current Company practice is 1.5% net). required, certain states will have a guaranteed interest rate of 3% per annum in policy years 1-10 and 2.5% per annum thereafter compounded annually), regardless of what may happen to the general economy. Current Interest Rate Your Account Balance may be credited with excess interest that is competitive with other tax-advantaged products. Bonus Interest Rate In policy year 11 and thereafter, a 1/2% interest bonus will be added to the current interest rate as long as the current interest rate at the end of the policy month is above 3%. (In those states referred to in the minimum interest rate description, a 1/2% interest bonus is payable regardless of the current interest rate). COMPETITIVE INTEREST RATES Minimum Guaranteed Interest Rate National Western Life guarantees the interest rate on your Account Balance will never fall below 3% compounded annually (Where ** May not be available in all states. *** National Western Life may charge a claims processing fee. Page 5 of 6

6 LIMITATIONS & EXCLUSIONS Suicide: Within two years after the policy date, if the death of the Insured is a result of suicide, while sane or insane, nothing will be paid under the policy except to BONUS INTEREST CURRENT INTEREST RATE GUARANTEED INTEREST RATE return premiums, less any loans, loan interest, and partial surrenders. Incontestability: After the policy has been in force during the lifetime of the Insured for two years from the policy date, the policy will not be contested, except for fraud (except for those riders which have their own clause on contest). Delayed Payment of Cash Surrender or Policy Loan: The Company has the right to delay the payment of any cash surrender or the granting of a policy loan, except a loan to pay premiums on any policy that the Insured may have with the Company, for a period of up to six months. Misstatement of Age or Sex: If the age or sex of the Insured has been misstated, the benefit payable shall be adjusted to that which could be purchased by the most recent monthly deductions at the correct age or sex. ABOUT THE COMPANY National Western Life Insurance Company is a Colorado corporation with executive offices in Austin, Texas. The Company offers a full line of life insurance and annuity products (both on an individual and group basis), through general agency offices in 49 states, the District of Columbia, and accepts applications from residents of several foreign countries. As of December 31, 2007, the Company had $17.6 billion of insurance in force, $6.1 billion in assets, $5.4 billion in liabilities, and $711 million in capital and surplus. National Western has consistently ranked in the top 100 companies in the industry by total admitted assets and capital & surplus. Since its start in 1956, National Western has emphasized financial strength for the protection of its policyholders. As a legal reserve insurance company, National Western must set aside a portion of its assets equal to reserves required by law. Annually, a financial statement is filed with each state s insurance department. These departments have authority to verify, through reviews and audits, that the appropriate reserves are maintained. CLIENT SERVICES WATSLINE Page 6 of 6

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